Premier Gold Mines Limited (TSX-PG) is pleased to provide a summary of recent drill results from the Company’s 100%-owned Hasaga Project located at Red Lake, Ontario. The 2018 program is focused on infill and expansion of mineralization within the C-Zone, D-Zone and Buffalo targets areas.
The Hasaga Property is located in the Red Lake Greenstone Belt (RLGB), an Archean-aged greenstone belt within the Uchi Sub-province of the Superior Structural Province. The Red Lake district has produced nearly 29 million ounces of gold from multiple mineralization settings. Gold mineralization at the Hasaga Property occurs as quartz-veinlet stockworks veinlet arrays hosted predominantly within the Dome Stock (a granodioritic intrusion) or a nearby quartz-porphyry dike that occurs within the proximal Balmer Assemblage.
Highlights of the initial results from drilling in 2018 include the following:
The US$2.8 million 2018 program consists of 20,000 metres of drilling to follow up significant intercepts from Premier’s 2017 exploration program. Highlight intercepts from the 2017 exploration campaign in the C-Zone include; 54.0 metres of 10.94 g/t Au in hole HMP151 and 21.0 metres of 12.03 g/t Au in hole HMP164-W3. Figure 1 is a long section view displaying the location of the 2017-2018 drilling in the C-Zone, D-Zone and Buffalo target areas.
“We are very pleased with our success to date, in delineating and expanding the continuity of the Hasaga trend along strike and at depth,” commented Stephen McGibbon, Executive Vice-President of Premier Gold Mines Ltd in the Company’s C-Suite Blog (http://www.premiergoldmines.com/news/c-suite-blog). “These deeper, higher-grade structures could indicate the potential for the optionality of a lower CAPEX, higher grade standalone production opportunity in addition to the near surface open-pitable potential demonstrated in our 2016-17 program.”
Table 1: Summary of recent exploration results from the 2018 Deep Hasaga drill program
|HMP165||441471 / 5651151||337 / -62||385||12100||C Zone||655.0||678.0||23.0||0.45|
|HMP166||439874 / 5650648||20 / -68||361||8700||Buffalo||270||282||12.0||0.83|
|HMP167||441471 / 5651151||337 / -70||385||12150||C Zone||770.5||776.0||5.5||7.21|
|HMP168||439874 / 5650651||5 / -68||361||8650||Buffalo||279.0||293.0||14.0||3.63|
|HMP169||441460 / 5651094||339 / -77||382||12100||C Zone||1037.0||1040.0||3.0||14.36|
|HMP169_W1||441460 / 5651094||339 / -77||382||12100||C Zone||993.0||1095.0||102.0||2.53|
|HMP170||439876 / 5650653||345 / -75||36||8600||Buffalo||316.5||318.0||1.5||9.06|
|HMP171||440821 / 5651589||148 / -70||384||10850||D Zone||613.0||655.0||42.0||1.58|
|HMP172||440821 / 5651589||148 / -65||384||10850||D Zone||576.0||582.0||6.0||13.67|
Stephen McGibbon, P. Geo., is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101. For a complete description of Premier’s sample preparation, analytical methods and QA/QC procedures refer to the technical report for the Hasaga Project dated February 24, 2017 (effective date December 30, 2016), entitled “National Instrument 43-101 Technical Report: Hasaga Project, Red Lake Mining District, Ontario, Canada” located on Premier’s website and at www.sedar.com.
Premier Gold Mines Limited is a gold producer and respected exploration and development company with a high-quality pipeline of precious metal projects in proven, accessible and safe mining jurisdictions in Canada, the United States, and Mexico. Premier’s team is focused on creating a low-cost, mid-tier gold producer through its two producing gold mines; and two advanced multi-million ounce development projects where permitting and pre-construction initiatives are in progress.
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